A new report by The Century Foundation based on analysis of data from the Department of Education shows that students who attended for-profit colleges filed more than 98 percent of the requests for student loan forgiveness alleging fraud by their schools.The study is based on nearly 100,000 applications for loan forgiveness based on "borrower defense" […]
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by Jeff Sovern Here (the content appears to be free). Excerpt: After the GOP captured the U.S. House majority in 2010, Republicans quickly went to work trying to * * * undercut the Dodd-Frank Act and the Consumer Financial Protection Bureau, among other things. A Democratic victory in 2018 would likely have a reverse effect, […]
That's the topic of this piece by Jacklyn Willie (possibly behind a pay wall) which discusses this Chamber of Commerce amicus brief filed in an important Ninth Circuit appeal. The suit was filed against the University of Southern California by its employees over the legality of fees charged through USC's employee retirement plan. Willie explains that The central question […]
by Paul Alan Levy Prestigious Pets, the Dallas-area pet-sitting company that faced a blizzard of public criticism after it invoked a non-disparagement clause as a basis for suing a husband and wife in small claims court after the wife posted over a mildly critical Yelp review of the company’s procedures and the resulting overfeeding a […]
by Paul Alan Levy After the late John Dozier was humiliated about ten years ago after it came to light that his office was routinely including a tag line in its demand letters threatening to sue for copyright infringement if the demand letter was republished, I thought it had become well-established that using those lines […]
The Consumer Financial Protection Bureau today published these tips for service members with student debt.
It's often said that a class action makes sense as a tool for aggregating negative-value claims (claims that even if litigated successfully on an individual basis result in a loss to the plaintiff). In Deterrence and Aggregate Litigation, law prof Keith Hylton looks at positive-value claims and finds that optimal deterrence is served by class actions […]
Larry Kirsch and Gregory Squires have written Meltdown: The Financial Crisis, Consumer Protection, and the Road Forward. Here's how the authors describe the book's 5 key features: Presents the first comprehensive examination of the CFPB that identifies its successes during its first five years of operation and addresses the challenges the bureau now faces Exposes the alarming […]
by Jeff Sovern The banking industry opposed the Credit Card Act of 2009 on the ground that it would reduce the availability of credit. We heard the same objection to 2010's Dodd-Frank Act. So you might think that it would be hard to get a credit card or to use one to borrow these days. […]
In a decision penned by circuit judge Jeffrey Sutton, Roberts v. Mars Petcare US, Inc., No. 17-6122 (6th Cir. Nov. 2, 2017), the Sixth Circuit has held that there's no federal jurisdiction under the Class Action Fairness Act when a plaintiff class comprised of citizens of state A sue a defendant who is a citizen […]